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Phoenix Synergistics Millennials, Gen X, And Baby Boomers: Financial Insights

Oct 2016 | Financial
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Most financial services providers recognize the importance of having strategies for marketing to the three population segments that currently dominate the financial services marketplace – Baby Boomers, Generation X, and Millennials. Each of these groups has a unique set of generational experiences that may influence their approach to financial services and make their behavior unique.

Baby Boomers, born between 1946 and 1964, are currently ages 52 to 70 and the older members of this group are now entering retirement.  Many Baby Boomers may be redefining what is meant by retirement as a result of recent economic turmoil. Generation X members are currently ages 36 to 51 and have entered mid-life characterized by expanded financial services needs.  Generation Y – also known as Millennials – are currently ages 14 to 35.  This group is in the life building stage and at the beginning of their financial life cycle.

This new survey examines their usage of financial services and various types of providers.  It assesses how the decision making process may differ among the groups including their usage of professional advisors. The channel usage of each group will also be examined. Phoenix Synergistics will identify how best to connect with and market to each group.  It is essential for providers to have an understanding of each of these groups in developing and refining their generational marketing strategies and programs.

I. Report – Table of Contents

II. List of Exhibits

III. Strategic Insights Market Competitive Intelligence Appendix – Comprehensive Strategic Summary

IV. Survey Results

V. Methodology

VI. Questionnaire with Topline Results

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